EnvestorFirst (< 20)

HOLD OFF ON CHEVRON…PATIENCE IS KEY…

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Some stocks are ready to buy right away. Other times, its just better to wait and jump in later. This is the current case with Chevron. Hold off on this stock for awhile, until its a buy again. Isac Simon explains why you should wait.

Exploration and productionTotal U.S. production volumes dipped by 17,000 barrels of oil equivalent per day (Boe/d) in the first two months of this year, when compared to the fourth quarter of 2011. The company cites the sale of its Cook Inlet assets in Alaska as the reason for the production drop. On a year-on-year basis, total production fell by a huge 50,000 Boe/d. That’s more than a 7% drop.